In Germany, there are numerous ways to take out a loan. This applies to employees and workers, civil servants, the self-employed and freelancers as well as companies of all sizes. Depending on the reason and purpose of the loan, the different forms of credit can be distinguished from each other. Below you will find all important information about loans for individuals.
- 1 The installment loan
- 2 The mini loan
- 3 The construction financing
- 4 loans for the self-employed and freelancers
- 5 The car loan
The installment loan
The best known loan is the installment loan. This loan is given without purpose. Installment credits are available depending on the credit rating up to the amount of approx. 50,000 euros. Sometimes a higher loan amount is awarded. This is possible, for example, for civil servants and employees of the civil service. In the case of an installment loan, the salary assignment generally applies as security for the loan. An exception to this are loans for the self-employed and freelancers, more below. Installment loans are available at a variable interest rate, depending on the creditworthiness of the borrower, but also with a fixed interest rate that is the same for all borrowers. In addition, there are always offers for 0% financing here and there. Such loans do not incur interest, only the loan amount itself has to be repaid. A loan comparison is the fastest way to find cheap installment loans.
The mini loan
A variant of the installment loan is now becoming increasingly known mini loan. This type of loan is given out on short notice, and therefore has much lower credit sums. For new customers, the mini-credit providers usually give only a few hundred euros. Since a mini-loan is a short-term loan, it often has to be repaid in one installment. The advantage: with the selectable express option, it will be paid out to the bank account within hours or, depending on the provider, within one business day. But: This option, as well as a multi-install option, usually incurs high fees. In the meantime, there is also the possibility of comparing the providers with each other via a mini loan comparison.
The construction financing
Mortgage lending is often used to finance the purchase or construction of a home, or the purchase of a condominium. Mostly there is this type of loan from a loan amount of 75,000 euros. Upwards, the maximum loan amount is open. In the amount of the loan amount above all the creditworthiness of the borrower counts, as well as the portion of equity, which is introduced. In the meantime, there are also building loans that can be taken up as so-called full financing, that is, without equity. The disadvantage here is that the interest rates for a 100% financing are higher because of the higher risk for mortgage lenders than for construction loans with equity capital share. Therefore, I should only consider such full financing as a possibility, if there is really no other way. That is, if I find an absolute dream property or a real bargain, and want to strike directly at the purchase. As a rule, the property that is bought or built with the loan is considered as collateral for mortgage lending. The bank or mortgage lender will then be registered as owner or co-owner in the land register. Construction loans can be most easily found on a mortgage lender .
Loans for the self-employed and freelancers
Although it is often preferred by banks to have an employment contract, there is also the option of taking out loans for the self-employed and freelancers. Sometimes one bank or another is hard to grant such a loan, because there is no collateral such as the salary assignment. Therefore, anyone who comes across granite at banks looking for such a self-employed loan, can try it on a credit marketplace. On such credit marketplaces, such as smava and auxmoney, self-employed and freelancers can also look for private investors.
The car loan
The car was and is the Germans favorite child. But not everyone has the necessary change to buy from their own resources a new car or a good used car. Therefore, many banks offer the car loan. Here it is important to pay attention to what is in the loan agreement with regard to the security for car financing. Not every bank, the car letter can be deposited as collateral. Instead, when the loan is concluded, there is an agreement on salary assignment if the loan is not repaid on time. If the car is to be resold after one or two years, should be waived on the motor vehicle letter as collateral. Because: As long as the bank has the letter, she is also the owner of the vehicle financed with the car loan! Car loans are the fastest way to find a car loan comparison.